Take a critical look at your home's appearance. You can drastically improve
a home's appearance if you just take the time to perform a few of these
simple checks.
Are the lawn and shrubs trimmed and smart looking?
Are there cracks in the sidewalks, foundation, patio, etc.?
Does the driveway need resurfacing?
Are the gutters cleaned, does the chimeny need to be parged
and is the siding clean and mold free?
Does the window casing, doors and frames and siding need
painting?
Is there trash all over the yard (i.e. junk cars, broken
toys, sheds in need of repair, etc.)?
Are your lawn tools out of sight?
Cosmetic upgrades do not have to be expensive, but
can do a world of good in improving your home's appearance. You want
make the prospective buyers of your home get the impression that you
take great care of your property. This will give a sense of comfort
to your prospective buyers.
How and Where do you want you home advertised?
Do you want your home listed in the local real estate agent's multiple
listing service (MLS)?
Do you want to advertise in the local newspapers?
What about the home buyer magazines?
Do you want your home shown as an "Open House"?
Where do you want your home listed on the internet?
Do you want a virtual tour done for your home?
Do you want to use a Talking House® system?
Are you going to place a professional looking sign in the
yard.
Who is going to prepare the brochures?
Showing Your Home.
Are you planning on being home? Who is going to answer the phone
and schedule the showing appointments?
Are you going to walk the prospective buyers through your
home?
How much information are you going to disclose? What legal
obligations do you have in disclosing information? Compliance
with State and Federal laws? Do you have the forms you need?
Are you planning on keeping a log of the prospective home
buyers? What security issues do you have? Are you going to
check ID's? What information are you going to record about
the prospective home buyers?
How are you going to determine if the prospective buyer
is qualified to purchase your home?
Note: Remove from your home or lock all of your valuables
in a safe place. Items like furs, jewelry, coins or other valuables
should not be left in the open. Absolutely, lock all firearms in appropriate
storage facilities or remove them from the premises.
Some home owners can and will sell their homes themselves and save the
commission paid to the real estate agents. However, as you have read
above, selling your home means that you will be responsible for placing
ads, answering phones, showing your home to strangers, evaluating
and pre-qualifying buyers, attempting to negotiate the offer(s) and
dealing with the buyers that realize you are not dealing with a real
estate agent and will offer less for your home.
The first time a prospective buyer
just shows up at your door during dinner hour, or wants
a showing when you are on your way to church, your
child's ball game, on your way to work, etc.; may help
you to decide that an agent's commission is a bargain.
Also remember, a real estate agent's business is selling
homes. The agent is probably knows a great deal more
about marketing your property, setting a sales price,
preparing for the buyer's offer(s), evaluating the
offer and the different types of financing that an
offer may entail. Here are some of the advantages professional
agents offer:
They will help you to establish a fair asking price
for your home.
They will list your home for sale in their multiple
list system (MLS) and the internet.
They will set up and pay for the advertising of
your home for sale.
Their office will coordinate, schedule and a real
estate agent will be present during the showing of
your home.
A keybox system will be set up at your home so
your home will be availble for showings at reasonable
hours when you are not home.
The buyer's agent will screen out most of the buyers
that are not capable of purchasing your home, since
they will not waste their time showing a home that
their buyer cannot purchase.
The agent will also be able to refer you to resources
for insurance, inspections, legal counsel and mortgage
financing.
Your agent will negotiate with the buyer on your
behalf.
Negotiate the Listing Agreement -
Interview several real estate agents. Understand the
program the agent proposes for selling your home. Understand
what services are included in the commission. Are there
any fees other than the commission charged? What is
the commission and how is the commission split between
the buying agent and the listing agent. Understand
who the agent represents and under what circumstances
that representation may change.
Determine the Listing Price - Have
the real estate agent you chose provide you with a
comparative marketing analysis of your property as
compared to other like properties. Ask for the agent's
assessment of the market and their strategy for pricing
your home for sale.
What sells real estate? - The condition of your home, the sales price,
the terms and conditions of the sale, is your home available for
showings and the shape of the market.
In preparing to list your home for
sale, do the following:
Locate your deed, your property tax bill, any other
information about assessments or liens on the property.
Obtain a resale package for your homeowner's or
condo owner's association.
Identify what is going to be sold with the home.
i.e. washer, dryer, hot tub, drapes, rods, etc.
Talk to your agent about offering a Homeowner's
Warranty.
Prepare your home to be shown.
Pick up clutter. Make room. Place extra furniture
in storage. Remove your valuables, if necessary.
Do those small repair projects that you have been
putting off.
Clean everything. First impressions upon walking
into your home are the lasting ones.
Your agent has a program
set up to do this for you. It should encompass the MLS,
the internet, local newspapers, home buying magazines,
open houses, electronic aids (i.e. Talking House transmitters,
800 telephone numbers, etc.), brochures and agent tours.
Step 5 - Showing
Your Home to Buyers.
This is always a controversial
issue. Let commonsense be your guide.
Don't be in the home during a showing.
If at all practical, take a walk, go to the store,
drive around for 15 minutes but it is better if you
are not on the premises when the property is being
shown. Buyers can and will feel uneasy if they feel
the home owner in the area. The last thing you want
is for the buyer to feel uncomfortable in your home.
If you do need to be there because the baby is sleeping,
you are having dinner, an individual needs care or
some other just as valid reason, then by all means
be there. Just smile and try to make the buyer feel
welcome, assure the buyer that you will stay out of
their way and let it go from there.
Security can be a concern. Never let
a buyer in your home without their buyer agent, especially
if you are alone. Their buyer agent will have done
some preliminary work with the prospective buyer for
mortgage pre-qualification. The agent will also be
watching their clients as the home is shown. For the
most part there are rarily problems, but crime does
happen. Jewelry will walk away, so will money and other
valuables.
Always lock your valuables away or
remove them from the premises before your home is shown.
During the day, have the curtains/drapes
open. Some fresh air spray, carpet deodorizer and a
clean home thoughout can't hurt. You want your home
to be bright, cheery, uncluttered and open.
During the evening, turn the lights
on, add a little mellow music, focus on nice fresh
scents throughout your home (fresh scents can also
be your dinner cooking on the stove) and again, have
a clean home.
What terms and conditions are being proposed? Have
they included all of the appropriate and practical
forms, notices and disclosures required to sell your
home under the terms that you desire.
Have they included
the Lead Based Paint disclosure and Maryland's Disclosure
or Disclaimer Statement?
Are they going to conduct a home inspection,
pest inspection, water test, well test and/or other
inspections or testing?
Your agent will estimate your closing costs and arrive
at an approximate net proceeds derived from the sale of your home should
you accept the offer before you.
Now is the time to strategize: Can you determine if the buyer is able
or willing to pay more for your home? Can you anticipate a better offer
from some other buyer? Do the offer's terms meet your needs and are they
acceptable?
If you find the offer acceptable, sign it. If you find
the offer close to the terms and price that you need, then have your
agent modify the buyer's offer and make the buyer a counter-offer. If
you see no merit in the offer, reject it and look for the next buyer's
offer.
Step 7 - Under
Contract, the Buyers Inspections.
Ok, you accepted the
buyer's offer and you are now under contract. Timeline
the inspections that were included in the contract. Look
for a Home, Radium, Radon, Pest, Water, Septic, Mold
and other possible Inspections. Mark the due dates of
the different inspections on a calender.
Once the different inspection results
are given to your agent (presumably in writing), be
prepared ahead of time to respond back if required.
Follow the terms and conditions stated in the contract and seek legal
advice if you have any contractual questions.
The final walk through is the final
inspection before settlement. At that time, the buyer
walks through the home, testing appliances and viewing
any repairs that were performed during the contract
period in accordance with the contract and ensures
that the home is in the same condition as when the
contract was first ratified.
Step 8 - Settlement
and the Transfer of Ownership.
The contract was ratified,
the inspections passed, the buyer's financing is in place
and its time for settlement. Follow the settlement agent
as they review the HUD-1, the document quantifying the
different outstanding bills and applying credit where
credit is due. If you have any questions about the transaction
this is the time to speak up. Once the documents are
signed, it is generally too late to effect any major
changes in the transaction.
Your ordeal is finally over and you are now homeless. Hopefully it has
not been an arduous ordeal and you are ready to do it again next year.
Welcome to my website MosesHomeTeam.com. I am
a proud affiliate of The Answer Team Real Estate Network. That
means when you need an expert in your corner Cindy
Moses and
the Moses Home Team is the best choice for you.
Realtor:
Cindy Moses, Realtor,
Broker, ABR, CRS, ePro, GRI
Associate.:
Charlie Enman, Buyer Specialist
Office:
240-514-1510
Mobile:
301-922-9237
Fax:
240-465-7111
Email:
Agency:
Keller
Williams Metro Realty
11333 Woodglen Dr., Suite 100
Rockville, MD 20852
"Disclosure: Information about Maryland real estate broker listed homes for sale from the Internet Data Exchange (IDX) contained in this website is provided by the Metropolitan Regional Information System (MRIS) through participating IDX brokers."